Articles:

PROJECT FINANCE: Incentives and Governance

Articles

Jan 13, 2014 — Neil Boyle

The traditional financial engineering risk-return approach to PPP infrastructure finance goes far but not far enough.  PPPs are often financed with high or even aggressive debt/equity ratios ranging from 80:20 and occasionally reaching the mid 90s.  TCE/NIE tells us that the principals of infrastructure projects are typically bilaterally dependent due to ...

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UPDATED – TCE PRECEPTS FOR ANALYZING INSTITUTIONS

Jul 19, 2010 — Neil Boyle

UPDATED - TCE PRECEPTS FOR ANALYZING INSTITUTIONS 07-19-2010 ver 3C Please click on the above link to see the updated version of what I consider one of my important posts.  It is important because it concentrates in one file the beginning of what I have learned over the past 10 years of studying ...

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Project Finance: Incentives and Governance of the Deal

Dec 29, 2009 — Neil Boyle

BACKGROUND  The traditional approach to PPP infrastructure finance comes from a financial engineering risk-return paradigm. PPPs are often financed with high or even aggressive debt/equity ratios ranging from 80:20 and occasionally reaching the mid 90s. As a minimum condition for lending, creditors require that project cash flows be extraordinarily stable and resilient ...

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Pricing the Deal as a Quadruple Trade-off

Nov 21, 2009 — Neil Boyle

The pricing of deals is often a two dimensional (finance on technical) trade-off between price and a series of financial and technical considerations. Because these considerations are geared toward securing project revenue streams (cash flows) for the comfort of creditors, finance issues tend to dominate the contracting action. Securing lender comfort ...

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